Caribbean Broadcasting Corporation

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Barbados to receive multi-million dollar IMF payout

June 28, 2024

Barbados is set to receive a 56 million US dollar payout from the International Monetary Fund on Tuesday.

This has been confirmed by Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn.

This follows the IMF Executive Board’s conclusion of the Third Review under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).

The latest payout will bring total disbursements under the EFF to about 75 million US dollars and about 112 million US under the RSF.

A statement from the IMF says Barbados’ economy has recovered to pre-pandemic levels and its external position has improved. GDP growth is expected to remain strong in 2024, driven by further growth in tourist arrivals.

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